Trade Cases
AD/CVD Investigations Update
Written by Sandy Williams
July 8, 2020
The Department of Commerce has initiated an investigation to determine if seamless carbon and alloy steel standard, line and pressure pipe from the Czech Republic, Korea, Russia and Ukraine is being sold at less than fair value in the U.S. market and whether such pipe is being subsidized by the governments of Korea and Russia.
The investigation is being pursued in response to a petition filed by Vallourec Star on July 8, 2020. The alleged dumping margins are:
- Czech Republic: 48.18% to 49.42%
- Korea: 119.07% to 132.16%
- Russia: 30.31% to 246.31%
- Ukraine: 40.28% to 40.44%
Commerce Finds Circumvention on Imports of China CORE Products
The U.S. Department of Commerce, in a final ruling on July 7, determined that corrosion-resistant steel products from China, that are further processed in Costa Rica and the United Arab Emirates before import to the United States, are circumventing U.S antidumping and countervailing duty orders.
Commerce will instruct Customs and Border Protection to continue to collect AD and CVD cash deposits of up to 199.43 percent and 39.05 percent, respectively, as established by preliminary determinations in February 2020. The rates are those established for “all other” Chinese producer and/or exporters from the underlying investigation.
The cash deposits are retroactive on unliquidated products dating from the beginning of Commerce’s self-initiated investigation on Aug. 12, 2019.
Removal of AD Duties on Imports of Cold Rolled Steel from Korean Manufacturers
In a second annual review, the Department of Commerce removed antidumping duties on imports of cold rolled steel products from South Korean manufacturers Hyundai Steel Co. and POSCO. In its determination, Commerce said that the companies were not selling steel in the U.S. below normal value during the period of review, Sept. 1, 2017, through Aug. 31, 2018.
According to Yonhap News, POSCO and Hyundai Steel said the Commerce decision could have a “positive effect on exports of their steel products to the U.S.” Any increase in exports of the product from South Korea, however, would be limited by Section 232 quotas as well as by weak demand in the U.S. as a result of the pandemic.
AD Changes for Korea OCTG Producers
In a fourth annual antidumping review of oil country tubular goods, Commerce lowered SeAH Steel’s antidumping duties to 3.96 percent from last year’s preliminary determination of 17.04 percent. Hyundai Steel, previously assigned a 0.77 percent duty, was exempted from duties by Commerce in its review.
Sandy Williams
Read more from Sandy WilliamsLatest in Trade Cases
Steel industry groups urge House action on LTPF 2.0
Six steel industry organizations have urged House Speaker Mike Johnson to include the Leveling the Playing Field 2.0 Act in any proposed package of legislation against China’s "unfair" trade practices.
CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
CRU: Imports cause concern in India and Vietnam
High levels of steel imports, especially from China, in recent months are worrying steel makers in India and Vietnam.
Price: The new greenwashing – subsidies to bail out obsolete, excess capacity
The United Kingdom and other countries are using the “green” label to subsidize bailouts of obsolete, inefficient, and excess capacity that should exit the market. US steelmakers have invested billions of dollars in technologies that curb greenhouse gas output. These investments have been market-based and led by EAF producers such as Nucor, Steel Dynamics, and CMC.
AISI, AISC, University of Massachusetts get ~$6.4M EPA grant
The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.